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CaliforniaInvestment salesNews

Kennedy Wilson Brokers $12.5 Million Sale of Shopping Center in Beverly Hills

by Hayden Spiess

Beverly Hills, Calif. — Kennedy Wilson Brokerage, a division of Kennedy-Wilson Properties, has brokered the $12.5 million sale of Beverly Palm Plaza, a shopping center located in Beverly Hills. The 11,484-square-foot property was fully leased at the time of sale. Tenants at the center include Supercuts, Domino’s Pizza, Sushi Sasabune, Bodhi Thai, Crazy Fish, Traveling Tikes and Zeglio Custom Clothier. Ed Sachse, Kyle Fishburn and Jack Nathan of Kennedy Wilson Brokerage represented the seller, DSC America Inc., in the transaction. 

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FinanceGrocery-anchoredNewsWashington

Gantry Secures $10 Million Refinancing for Retail Center in Yakima, Washington

by Hayden Spiess

Yakima, Wash. — Gantry has secured a $10 million permanent loan for the refinancing of Nob Hill Shopping Center, a retail center located in Yakima. Safeway anchors the property, which comprises 88,500 square feet. Tony Kaufmann and Erinn Cooke of Gantry arranged the 30-year, fixed-rate financing through a life insurance company on behalf of the borrower. 

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LeasingMichiganNewsRestaurants

Andiamo Pasta & Chops Signs 7,670-Square-Foot Lease in Metro Detroit

by Hayden Spiess

Clinton Township, Mich. — Restaurant Andiamo Pasta & Chops has signed a 7,670-square-foot lease at The Mall at Partridge Creek, a 640,000-square-foot shopping center located in Clinton Township, roughly 25 miles outside Detroit. Scheduled to open this summer, the eatery will mark the first for the concept in the state. Spinoso Real Estate Group manages the shopping center, which is anchored by MJR Theaters. Powerhouse Gym is also scheduled to join the property as an anchor tenant in 2025. 

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CaliforniaGrocery-anchoredInvestment salesNews

Primestor Acquires Retail Center in Oxnard, California for $90 Million

by Hayden Spiess

Oxnard, Calif. — Primestor Development has acquired Esplanade Shopping Center, a 357,000-square-foot retail center located in Oxnard, for $90 million. The Home Depot, Nordstrom Rack, Staples, Dick’s Sporting Goods, T.J. Maxx and Walmart Neighborhood Market anchor the property, which was 94 percent occupied at the time of sale. Other tenants at the center include Cost Plus World Market, Tilly’s, Boot Barn, In-N-Out Burger and BJ’s Brewery and Restaurant. 

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Scottsdale Commons
ArizonaInvestment salesNews

CBRE Arranges $22.2 Million Sale of Shopping Center in Metro Phoenix 

by Hayden Spiess

Scottsdale, Ariz. — CBRE has arranged the $22.2 million sale of Scottsdale Commons, a 69,482-square-foot shopping center located in Scottsdale, roughly 13 miles outside Phoenix. The property was 95 percent leased at the time of sale, to tenants including Black Rifle Coffee, Mountain View Pharmacy, Rosati’s Pizza, H&R Block, Rusty Nail Butcher, Green Corner Mediterranean, U.S. Egg and Habanero’s Restaurant. Joseph Compagno and Benjamin Farthing of CBRE represented the seller, Trojan Development Associates III in the transaction. Whitestone REIT, which was also represented by Compagno and Farthing, acquired the property. 

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IllinoisInvestment salesNews

Mid-America Brokers Sale of 65,038-Square-Foot Retail Center in Chicago Suburb

by Hayden Spiess

Park Ridge, Ill. — Mid-America Real Estate Corp. has brokered the sale of Village Green Shopping Center, a 65,038-square-foot retail center located in the Chicago suburb of Park Ridge. The center was 93 percent leased at the time of sale. Tenants at the property include BMO, Lou Malnati’s, Goldfish Swim School, Wheel & Sprocket, Midwest Orthopedics, Westside Children’s Therapy, BFT, FedEx Office and Subway. Ben Wineman and Emily Gadomski of Mid-America arranged the sale on behalf of a private investment group.

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CaliforniaLeasingNews

ULTA Beauty Signs 12,000-Square-Foot Lease in San Diego

by Hayden Spiess

San Diego — ULTA Beauty has signed a 12,000-square-foot lease at Rancho San Diego Towne Center, a shopping center located in San Diego. The store, which will be located near Crumbl Cookies and Star Nails, is scheduled to open later this month. Other tenants at the property include Albertsons, Staples, Target and Cold Stone Creamery. 

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DevelopmentGeorgiaMixed-useNews

CP Group Rebrands 1.2 Million-Square-Foot CNN Center in Downtown Atlanta to The Center

by Katie Sloan

Atlanta — CP Group has rebranded CNN Center, an iconic 1.2 million-square-foot office and retail building in downtown Atlanta, to The Center. The property has served as the headquarters for CNN for over 40 years and also features a large food court on the ground level that connects to State Farm Arena, home arena of the NBA’s Atlanta Hawks. The site also includes the Omni Atlanta Hotel at Centennial Park. CP Group plans to overhaul the former CNN Center to become a hub of world-class retail, dining, content creation and …

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DevelopmentNewsNorth Carolina

Topgolf to Open New Venue in Durham, North Carolina

by Katie Sloan

Durham, N.C. — Topgolf plans to open a new venue in south Durham on Friday, April 12. The new Topgolf will represent the third Topgolf in North Carolina, with the other two venues in the Charlotte area. In December, the company also announced a new Topgolf coming to nearby Greensboro, North Carolina. The Durham venue will be located off the Page Road exit on I-40 at 4901 Topgolf Way, a short drive from Research Triangle Park and about 12 miles from Duke University. The new Topgolf will feature 102 climate-controlled hitting …

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Investment salesNewsOhio

Cooper Group Brokers $5.4 Million Sale of Shopping Center in Metro Columbus

by Katie Sloan

Reynoldsburg, Ohio — The Cooper Commercial Investment Group has brokered the $5.4 million sale of Livingston Avenue Center, a 101,621-square-foot shopping center in the Columbus suburb of Reynoldsburg. The fully leased property is home to tenants such as Save-a-Lot, Big Lots and Urban Air. Dan Cooper of Cooper Group represented the seller, a private investment group out of California. The Midwest-based buyer purchased the asset at a cap rate of 8.19 percent.

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